Managing your approach to risk.

I am naturally risk averse.

I’m not entirely sure if it’s my innate personality or if it’s the product of years of vicarious learning.

I am the younger sibling of someone with more of a gambling spirit and it taught me just as many lessons in life as did making my own difficult choices.

Why am I mentioning this today?

Where there is a dream, an aim, a plan for change, there is generally risk. The idea is to accept it, acknowledge it and make precautions or preparations to minimise it.

One thing I remember from my first formal management of risk course, oh so many, many, years ago, was the tutor reprimanding me for trying to minimise the risks from the actions proposed to minimise other risks. Presented with the opportunity to identify potential risks, I was about twelve steps ahead within a few minutes, anxiously trying to solve problems that only existed in my imagination.

I was reminded of this today because when you sit down to do a risk assessment, whatever approach you take to management of risk, it’s just as important that you remember your own personality when you do so. It’s ok to have the spirit of a gambler, just as it’s ok to want to prepare for every eventuality. The key is to remember and acknowledge your ‘type’ when you approach it.

It also helps to do the risk assessment with others. Chatting through it can be the spark of inspiration that makes the challenge seem more manageable. It can stop you running away with your risk identification - convincing yourself that the challenge is too big or too hard before you’ve even started.

Right, back to it. Coffee first though, I think.

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